what is/are the purpose(s) of inline?

I had a discussion with Johannes Schaub regarding the keyword inline. The code there was this:

namespace ... {
    static void someFunction() {
        MYCLASS::GetInstance()->someFunction();
    }
};

He stated that:

Putting this as an inline function may save code size in the executable

But according to my findings here and here it wouldn't be needed, since:

• [Inline] only occurs if the compiler's cost/benefit analysis show it to be profitable
• Mainstream C++ compilers like Microsoft Visual C++ and GCC support an option that lets the compilers automatically inline any suitable function, even those not marked as inline functions.

Johannes however states that there are other benefits of explicitly specifying it. Unfortunately I do not understand them. For instance, he stated that And "inline" allows you to define the function multiple times in the program., which I am having a hard time understanding (and finding references to).

So

1. Is inline just a recommendation for the compiler?
2. Should it be explicitly stated when you have a small function (I guess 1-4 instructions?)
3. What other benefits are there with writing inline?
4. is it needed to state inline in order to reduce the executable file size, even though the compiler (according to wikipedia [I know, bad reference]) should find such functions itself?

Is there anything else I am missing?